Arabic News Weekly Edition for Economics, 4/19/1999
Weekly Edition, Economics - Week of April 19, 1999
- Morocco projects 3 percent growth this year, as budget deficit declines
The draft appropriation bill predicts a 2.8 percent decrease in the budget deficit, while savings will stand at nearly $600 million. Up to 36% of the amount will be contributed to equipment projects over 28% last year. Morocco, Economics, 4/24/1999 - Syrian public sector's exports decline by 30%
The recession in exports has become a characteristic linked to exports due to the inablility to carry out the government's set plan, which estimated the exports of the public sector for 1998 at a cost of US $1.268 billion, excluding light oil, while actual exports value reached US $1.1 billion, representing an execution rate of 87%. Syria, Economics, 4/24/1999 - Saudi loan to Hyundai
The bureau of Korean Hyundai Group in Cairo announced that a company for refining petroleum affiliated to the Korean group has agreed with the Saudi National Trade Bank to offer a loan to the Hyundai Group worth $200 million. Saudi Arabia-South Korea, Business, 4/24/1999 - Negotiations to sell Cairo hotel
ArabicNews.com has learned that the holding company for tourism and housing began to receive offers to buy the Cairo Helnan Shepherd Hotel. Egypt, Business, 4/24/1999 - Exchange price of the Libyan dinar increases
The Libyan dinar's exchange rate increased in transactions on the Egyptian exchange market yesterday from 108 to 120 piasters for purchase. Egypt, Business, 4/24/1999 - Cairo: Four companies compete to buy Asyut Cement
French, German and Mexican international companies in addition to the Egyptian Aceic company are studing the purchase of Asyut Cement company, which was recently floated up for sale. Egypt, Business, 4/24/1999 - Convening the second session of Arab business council in Morocco
Taher Sherif, the deputy chairman of the council, told ArabicNews.com that business delegations from Jordan, Syria, Lebanon, Palestine, Yemen, Sudan, Tunisia, the Arab Gulf states, Libya and Morocco will participate. Regional, Business, 4/23/1999 - Establishing an Egyptian - British holding company for investment
Serour added that the suggested capital of the company is 500 million English pounds for direct investment in the projects of Toshka, Suez Gulf, and East of Port Said. Egypt-UK, Economics, 4/23/1999 - El Salvador can offer Morocco a partnership space in Latin America
El Salvador can offer Morocco a strategic partnership space and a genuine passage to the large market of Latin America, the Caribbean, Mexico and the USA, said visiting Salvadorian external affairs minister, Ramon Ernesto Gonzalez Giner. Morocco-El Salvador, Economics, 4/23/1999 - 800 million euros to establish infrastructure projects in Egypt
A delegation of the European Investment Bank, which is currently visiting Cairo, announced the specification of 800 million euros for basic infrastructure projects in Egypt. Egypt, Economics, 4/23/1999 - IFC invests in housing and tourism in West Bank and Gaza
The International Finance Corporation signed on Thursday agreements to invest a total of $ 28.4 million in the West Bank and Gaza, including $19 million for a housing project and $9.35 million for a tourism project. Palestine, Economics, 4/23/1999 - Two delegations from Argentina arriving today in Cairo
Two large delegations from Argentina are arriving today in Cairo to hold major talks for cooperation between the two countries and to sign agreements in the fields of security and marine transportation. Egypt-Argentina, Economics, 4/23/1999 - Japan's experiment in developing exports in a symposium at Egyptian center for studies
Egyptian Minister of Public Enterprises Atef Ebeid will open a symposium organized by the Egyptian Center for Economic Studies on Tuesday under the title "Japan's role in encouraging the Asian exports and the utilized lessons for Egypt." Egypt-Japan, Economics, 4/23/1999 - Delta for building and construction floats up bonds of 225 million L.E
The Egyptian Delta company for building and construction decided to issue financial bonds valued at 225 million pounds, to be used in financing the company's expansion. Egypt, Business, 4/23/1999 - Turkish economic delegation to arrive in Syria on Monday Syria-Turkey, Economics, 4/23/1999
- $500 million for US - Egyptian projects in Africa Egypt-Africa, Economics, 4/23/1999
- Jordanian airline resumes trips to Libya
Royal Jordanian Airline resumed its trips to Tripoli yesterday after the suspension earlier this month of economic sanctions imposed by the United Nations on Libya. Jordan-Libya, Economics, 4/23/1999 - Chinese industrial delegation due in Cairo next month Egypt-China, Economics, 4/22/1999
- Egyptian complaint against European sugar Egypt-European Union, Economics, 4/22/1999
- Lufthansa resumes flights to Tripoli
The German airline, Lufthansa, said on Wednesday that it will resume its regular flights to Libya as of today. Libya-Germany, Economics, 4/22/1999 - French Bouygues group officially chosen to construct $ 400 mln port in northern Morocco
The Moroccan government on Wednesday officially entrusted the French leading construction group Bouygues with building a $ 400 million port in the northern city of Tangiers. Morocco-France, Economics, 4/22/1999 - Malaysian minister of trade to visit Egypt soon
Malaysian Minister of Trade Rafidah binti Abdul Aziz is due to arrive at the end of current month in Cairo for a three-day visit escorted by a large Malaysian business delegation. Egypt-Malaysia, Economics, 4/22/1999 - Demonstration by Lebanonese workers union
The General Labor Confederation in Lebanon on Wednesday staged a demonstration in protest of increasing taxes and fees and to call for "correcting" wages. Lebanon, Economics, 4/22/1999 - JETRO delegation visits Egypt
The head of the Japanese foreign trade organization Jetro, Nowero Hata Takiama is to visit Egypt on April 26 - 27. Egypt-Japan, Economics, 4/22/1999 - Hungarian delegation discusses chances for investment in Egypt
A Hungarian business delegation is starting a six-day visit today at the invitation of the Egyptian businessmen's association and a business association in Alexandria. Egypt-Hungary, Economics, 4/22/1999 - Libya seeks to buy Egypt's share in international Islamic bank Libya-Egypt, Business, 4/22/1999
- Cairo hosts Arab electricity ministers meeting
Deliberations of the session of the Council of Arab ministers in charge of electricity started in Cairo on Wednesday at the headquarters of the Arab League. Regional, Economics, 4/22/1999 - Morocco's BMCE Bank in quest of business opportunities in Canada
Morocco's Bank of Foreign Trade (BMCE) will visit Montreal next May 3-5 to identify joint business opportunities and foster contacts with local bankers and managers. Morocco-Canada, Business, 4/22/1999 - World Bank organizes workshop on international economics in Egypt Egypt-World Bank, Economics, 4/22/1999
- Decline in income from Lebanese treasury bonds Lebanon, Economics, 4/22/1999
- Morocco's largest private group gets new chief Morocco, Business, 4/21/1999
- Arab finance ministers meet in Doha on Arab free trade zone
Finance ministers from 20 Arab countries and some 11 central bank governors on Tuesday in Doha started a meeting dedicated to establishing an Arab zone for free trade exchange in the year 2007. Regional, Economics, 4/21/1999 - Moroccan trade union delegation visits Egypt
A delegation of the Moroccan energy federation-- affiliated to the Moroccan Labor Union (UMT)-- is currently visiting Egypt where it was received by Egyptian energy and electricity minister, Maher Abaza. Egypt-Morocco, Economics, 4/21/1999 - Qatar, Japan to expand volume of joint investment
Qatari Minister of Energy Abdullah Bin Hamad al-Ateyah on Tuesday urged the Japanese government to expand its investments in Qatar. In the meantime, Japan's investments in Qatar are limited to developing operations of oil and gas and the sale of those products. Qatar-Japan, Economics, 4/21/1999 - Arab ministers of electricity discuss the progress in the electric link among them
Ministers of electricity in the Arab states for the Arab cabinet for electricity held their third meeting today at Arab League headquarters under the chairmanship of Saudi Minister of Industry and Electricity Hashem Yamani to discuss issues regarding joint Arab work in the fields of energy and electricity. Regional, Economics, 4/21/1999 - Morocco saves $20 million by suppressing subsidy on industrial sugar
The Moroccan government said the suppression of a subsidy on industrial sugar will help Morocco save $20 million. Morocco, Economics, 4/21/1999 - Palestinian airline starts trips to Doha
The Palestinian airline yesterday started trips to Doha, a three-hour flight from Gaza International Airport. Palestine-Qatar, Economics, 4/21/1999 - Gore - UAE United Arab Emirates-USA, Economics, 4/21/1999
- UN - Iraq Iraq-UN, Economics, 4/21/1999
- Moroccan premier calls for promoting trade with Kuwait
Morocco's prime minister, Abderrahmane Youssoufi, called Tuesday here for the promotion of trade exchanges and economic cooperation between Morocco and Kuwait. Morocco-Kuwait, Economics, 4/21/1999 - Meetings of Arab financial corporations to start today
Qatari Prime Minister Sheikh Abdullah bin Khalifa al-Thani is to open today the first session for the meetings of Arab financial corporations held under the patronage of Qatari Emir Sheikh Hamad bin Khalifa al-Thani with the participation of 45 ministers of economy, trade and finance, and governors of central bank, leaders of corporations' boards of directors, and Arab financial funds. Regional-Qatar, Economics, 4/20/1999 - Tunisian program to develop Tunisian exports
The high council for exports in Tunisia prepared a program to develop Tunisian exports. Tunisia, Economics, 4/20/1999 - 300 tourists deputies discuss activation of French tourism in Egypt
In cooperation with the Egyptian Ministry of Tourism, 300 French tourism deputies affiliated to Havas Voyage have held their annual meeting at Luxor to sell tour programs to different international tourist destinations, including Egypt. Egypt-France, Economics, 4/20/1999 - Indian investments in Bahrain
During the visit of an Indian business delegation to Bahrain in the coming month, Bahrain's council for marketing is going to organize workshops through which Indian businessmen will discuss and examine opportunities for investment and trade in Bahrain. Bahrain-India, Economics, 4/20/1999 - Moroccan trade minister meets Kuwaiti peer
Moroccan Trade Minister Alami Tazi, conferred Monday in Rabat with visiting Kuwaiti peer, Hisham Solaiman Al-Otaibi, on ways of fostering trade exchange and economic cooperation between the two countries. Morocco-Kuwait, Economics, 4/20/1999 - Jordan and the water issue with Israel
The Jordanian weekly al-Osbo' has said that the issue of "water share" from the water agreement with Israel was settled in the interest of Jordan which has categorically refused to negotiate this matter. The paper added that Jordan has reiterated its stand in not negotiating any matter included in the Jordanian- Israeli agreement. Jordan-Israel, Economics, 4/20/1999 - a Jordan, Business, 4/20/1999
- Japanese, Egypt to discuss establishement of power station Egypt-Japan, Economics, 4/20/1999
- 200 British companies look for Egyptian partners
200 British companies working in different fields of investment, industry and trade are to participate in an economic symposium and fair to be held in Cairo on April 29 to find Egyptian partners for investment and commerce. Egypt-UK, Economics, 4/19/1999 - New underground metro line in Cairo will move 4 million passengers
Egyptian President Hosni Mubarak on Sunday inaugurated the third phase of the second line of the metro tunnels from Cairo University in the Southern west of the city to its remote north, passing under the Nile. The line is 20 km long. Egypt, Economics, 4/19/1999 - Arab states are failing to capitalize on sub-Saharan Africa trade estimated at 63 billion
Trade exchanges between Arab states and Sub-saharan Africa remain below expectations, accounting for between 7 % and 8 % in their respective overall transactions. Regional, Economics, 4/19/1999 - Kuwaiti trade minister starts talks with Moroccan officials
Kuwaiti minister of trade and industry, Hisham Suleiman Al-Outaibi, who is on a visit to Morocco, held talks in Rabat on Saturday with Moroccan minister of economy and finance, Fathallah Oualalou, on means to energize trade exchanges between the two states. Morocco-Kuwait, Economics, 4/19/1999 - Mobinil long term loan in local currency
A group of Egyptian banks have agreed to offer the Mobinil company, an Egyptian company for mobile telephone service, a long-range loan valued at $670 million. Egypt, Business, 4/19/1999 - IMF loan to Jordan geared towards reform
The International Monetary Fund has agreed to offer Jordan a loan estimated at US $220 million to help finance a three-year reform program and eliminate obstacles resulting from the decrease in Jordan's exports. Jordan, Economics, 4/19/1999 - Israel, Poland sign free trade zone agreement Israel-Poland, Economics, 4/19/1999